Rulings
NCLAT: Rejects Prospective Resolution Applicant’s challenge to Corporate Debtor’s ‘liquidation as going concern’
SC: Error requiring long-drawn process of reasoning, not “error on face of record” for review
HC: No recourse for Customs Dept. in distribution of Corporate-Debtor’s liquidated assets absent claim
HC: Rejects Personal Guarantor’s writ challenging Demand Notice issued under IBC
NFRA: Imposes record penalty of Rs. 2 cr. on CCD Auditors for Substantial Audit Deficiencies
NCLAT: Existence of security-interest in Corporate-Debtor’s assets doesn’t preclude sale under resolution plan
NCLAT: Citing CoC's “commercial wisdom”, upholds Resolution Plan changing Corporate-Debtor’s nature of business
NCLAT: Cannot extend timeline for merger scheme submission sans proof of ‘concrete action’
SC: HC cannot quash Magistrate’s order under SARFAESI Act basis CrPC provisions
SC: Remedy for recovery of dues from third-party unavailable under IBC
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